In addition to NDIY's suggestions:
That the motor starts and runs at all implies that the start Capacitor is OK
Slow running can be caused by shorted windings – if so they convert your nice old Baldor into an expensive old Baldor! Cure with new motor or a rewind ( £ ) .
Another common cause of slow running is a faulty centrifugal switch. They can fail mechanically or the contacts can stick and may be fixable. (It's a nice Baldor after all!) This photo pinched off Quora is an example of what to look for inside the motor. When the motor is spinning fast enough part marked P on the rotor operates the switch marked S. What the switch does depends on the exact type of motor you have. It might just disconnect a winding, or it might switch in a Run Capacitor. The Run capacitor (if you have one) could be faulty, an easy fix.

There a few guys on the forum who know far more about motors than me and their answers are worth waiting for. In the meantime are you able to put some photos up?
Dave
Edit: What I want for x-mas. An unwanted smiley exterminator. 
Edited By SillyOldDuffer on 11/12/2018 12:09:53